EOG Resources (NYSE:EOG - Free Report) had its target price hoisted by Raymond James from $167.00 to $175.00 in a research report released on Thursday morning,Benzinga reports. They currently have a strong-buy rating on the energy exploration company's stock.
A number of other equities analysts also recently weighed in on EOG. Wells Fargo & Company upgraded EOG Resources from an "equal weight" rating to an "overweight" rating and upped their target price for the company from $147.00 to $150.00 in a report on Tuesday, December 17th. Piper Sandler dropped their price objective on shares of EOG Resources from $149.00 to $140.00 and set a "neutral" rating on the stock in a research note on Tuesday, December 17th. StockNews.com raised shares of EOG Resources from a "hold" rating to a "buy" rating in a research note on Wednesday. KeyCorp dropped their price target on shares of EOG Resources from $157.00 to $150.00 and set an "overweight" rating on the stock in a research note on Wednesday, October 16th. Finally, Barclays reduced their price objective on EOG Resources from $144.00 to $137.00 and set an "equal weight" rating for the company in a research report on Thursday, October 3rd. Thirteen investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, EOG Resources has a consensus rating of "Hold" and a consensus target price of $143.86.
Read Our Latest Stock Analysis on EOG Resources
EOG Resources Trading Down 1.7 %
Shares of EOG Resources stock traded down $2.25 during trading on Thursday, hitting $131.73. The stock had a trading volume of 3,178,794 shares, compared to its average volume of 3,295,012. The company has a quick ratio of 2.07, a current ratio of 2.31 and a debt-to-equity ratio of 0.13. The company has a market capitalization of $74.09 billion, a PE ratio of 10.61, a P/E/G ratio of 3.68 and a beta of 1.29. EOG Resources has a 1 year low of $108.94 and a 1 year high of $139.67. The stock has a 50 day simple moving average of $129.07 and a 200 day simple moving average of $127.31.
EOG Resources (NYSE:EOG - Get Free Report) last released its earnings results on Thursday, November 7th. The energy exploration company reported $2.89 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.73 by $0.16. EOG Resources had a return on equity of 23.77% and a net margin of 29.18%. The company had revenue of $5.97 billion during the quarter, compared to analyst estimates of $6.03 billion. During the same quarter in the prior year, the company earned $3.44 earnings per share. On average, research analysts expect that EOG Resources will post 11.45 EPS for the current fiscal year.
EOG Resources Increases Dividend
The firm also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Friday, January 17th will be given a $0.975 dividend. This is an increase from EOG Resources's previous quarterly dividend of $0.91. This represents a $3.90 annualized dividend and a yield of 2.96%. The ex-dividend date of this dividend is Friday, January 17th. EOG Resources's payout ratio is currently 31.40%.
EOG Resources announced that its board has authorized a stock repurchase plan on Thursday, November 7th that allows the company to repurchase $5.00 billion in shares. This repurchase authorization allows the energy exploration company to repurchase up to 7% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company's management believes its shares are undervalued.
Insider Transactions at EOG Resources
In other news, COO Jeffrey R. Leitzell sold 4,000 shares of the business's stock in a transaction that occurred on Tuesday, December 31st. The stock was sold at an average price of $120.89, for a total transaction of $483,560.00. Following the sale, the chief operating officer now directly owns 42,703 shares in the company, valued at approximately $5,162,365.67. The trade was a 8.56 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Janet F. Clark sold 568 shares of the company's stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $135.33, for a total value of $76,867.44. Following the completion of the transaction, the director now owns 43,532 shares of the company's stock, valued at $5,891,185.56. The trade was a 1.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.30% of the stock is currently owned by corporate insiders.
Hedge Funds Weigh In On EOG Resources
Hedge funds have recently made changes to their positions in the business. Charles Schwab Investment Management Inc. boosted its stake in shares of EOG Resources by 0.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 17,411,032 shares of the energy exploration company's stock valued at $2,140,338,000 after purchasing an additional 75,194 shares in the last quarter. Geode Capital Management LLC boosted its position in EOG Resources by 1.5% in the third quarter. Geode Capital Management LLC now owns 12,315,735 shares of the energy exploration company's stock valued at $1,513,446,000 after buying an additional 180,755 shares in the last quarter. Ameriprise Financial Inc. grew its stake in EOG Resources by 2.2% during the second quarter. Ameriprise Financial Inc. now owns 12,311,541 shares of the energy exploration company's stock worth $1,549,098,000 after buying an additional 260,727 shares during the last quarter. Franklin Resources Inc. increased its holdings in shares of EOG Resources by 64.7% during the third quarter. Franklin Resources Inc. now owns 5,284,228 shares of the energy exploration company's stock worth $694,717,000 after buying an additional 2,076,134 shares in the last quarter. Finally, Legal & General Group Plc raised its stake in shares of EOG Resources by 9.1% in the second quarter. Legal & General Group Plc now owns 4,840,705 shares of the energy exploration company's stock valued at $609,300,000 after acquiring an additional 403,676 shares during the last quarter. Institutional investors and hedge funds own 89.91% of the company's stock.
About EOG Resources
(
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EOG Resources, Inc, together with its subsidiaries, explores for, develops, produces, and markets crude oil, natural gas liquids, and natural gas primarily in producing basins in the United States, the Republic of Trinidad and Tobago and internationally. The company was formerly known as Enron Oil & Gas Company.
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